Browsing by Author "Pajala, Olli-Pekka"
Now showing 1 - 2 of 2
- Results Per Page
- Sort Options
- Reuse of buildings and their parts in single-storey steel buildings – economic view
Insinööritieteiden korkeakoulu | Master's thesis(2019-05-06) Pajala, Olli-PekkaConstruction industry consumes lot of raw materials and produces great amount of waste. To reduce its impact on the environment, reuse of building parts can be seen as a one potential solution. At the moment, reuse of building parts is not a widespread practice in the construction industry. This study investigates the economic feasibility of design for deconstruction (DfD) and reuse of building parts compared to the current practice of not DfD and recycling/landfilling in case of commercial single-storey steel structure building. Feasibility is viewed from the investor’s point of view. Design for deconstruction, means designing buildings so, that their disassembly is convenient and can be done without damage. Deconstruction instead of demolition gives an opportunity for reuse of building parts. Theoretical part of the thesis is about the DfD, reuse and valuation in the real estate industry. Scientific articles, publications and real-life examples about DfD and reuse are put together to form a general understanding about the topic. In the empiric part, discounted cash flow (DCF) method was utilised to evaluate the economic feasibility of DfD in case of commercial steel structure building. Evaluation was done by comparing traditional and DfD building in two calculations. In the first calculation it was assumed that the building stays in its current use and in the second calculation the building will be either demolished in case of traditional building or deconstructed in case of DfD building. The net present values in the first calculation were positive, ca. €148K for the traditional building and €88K for the DfD building i.e. the traditional building performed better. The DfD building should have ca. 4% higher average rent or 0,35 percentage unit lower yield to provide similar value as the traditional building. In the second calculation the discounted residual values were negative, ca. -€98K for the traditional building and ca. -€47K for DfD building. With the base parameters the current practice of not DfD was found to be better option from the economic point of view. Even though the results with base parameters favoured the current practice of non-DfD and recycling, there is potential for DfD and reuse with some changes in the most important parameters at least when the building is thought to be in its place for a short-term. In longer-term the economic feasibility of DfD becomes more challenging. However, there is lot of uncertainty related to the most important parameters so the results should be viewed carefully. - Vanhojen pilaantuneiden maiden vastuukysymykset kiinteistökaupassa
Insinööritieteiden korkeakoulu | Bachelor's thesis(2015-12-10) Pajala, Olli-Pekka